Potash Fertilizers Market Anticipates Steady 4.67% CAGR Through 2030

Potash Fertilizers Market Overview

“The Potash Fertilizers Market is estimated to increase at a CAGR of 4.67% from $ 29.79 billion in 2023 to $ 46.36 Billion by 2030.”

Potash fertilizer is a potent plant fertilizer that contains potassium, a crucial element for controlling plant growth, absorbing water, and producing carbohydrates.

Potash, also known as potassium fertilizer, is a natural fertilizer derived from boiling wood and plant ashes. It is primarily found in ancient ocean remains, compost, composted manures, wood ash, kelp, and green sand.

Potash, a potent nutrient in fertilizers, improves plant health by enhancing water retention, vigor, yields, nutrient content, color, and flavor, as it is largely absorbed by plants.

Potash Fertilizer Uses

Potash is a potent fertilizer used by gardeners to boost plant growth and produce fruits and vegetables. It should be tested before application, as some soils already have enough potassium. Potash can also raise soil pH, so it's not suitable for plants that prefer acidic environments like blueberries and hydrangeas. Other potent sources include kelp, green sand, compost, wood ash, and composted manure.

Potash fertilizers are expected to significantly increase in market share over the projection period. Potassium, essential for plant health, is taken out of the soil by harvested crops and needs to be supplied to maintain growth. Potassium-containing fertilizers improve crop yield and quality, while a lack can lead to decreased yields, poor fruit quality, and increased vulnerability to pest and disease damage. Potassium is connected to movement and is crucial for the efficient running of physiological processes in plants.

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Key Insights

• The development of soluble potash fertilizers can be accelerated by increasing soil fertility at the lowest possible expenses.
• Potash fertilizer demand is expected to surge in East Asia, South Asia, and Oceania due to rising food consumption and favorable government measures.
• Manufacturers are investing heavily in agriculture, while governments are implementing programs to support current businesses in revenue and market expansion.
• The graphic shows that in 2022, the liquid sub-segment held the largest market share of potash fertilizers, accounting for 52% of the total market.

Growth Drivers

• The increasing number of plantation and horticulture crops, which are fertilized with potash fertilizers, is driving market growth.
• The demand for potash fertilizer is increasing due to rising food productivity in limited land areas, an increased population, and the desire to maintain a healthy lifestyle.
• Modern farming practices and technology advancements have led to the adoption of safe agriculture, presenting a potential growth opportunity for the potash fertilizer market in the coming years.

Restraints

“The increasing population necessitates a substantial increase in the nutrient content of the environment.”

Global pollution and population growth are causing concerns about food shortages. The UN reports that some nations are already experiencing a food crisis due to economic volatility, affecting 9.9% of people. Repetitive cultivation degrades soil quality, making it crucial to refill it for high-nutrient grains, fruits, and vegetables. Enhancing soil with fertilizers can help combat food shortages and improve produce quality by irrigating vegetative and barren fields.

Potash Fertilizers Market Segment Analysis

“Liquid potash fertilizers are increasingly popular due to their ability to dissolve in water, making them a more efficient and environmentally friendly fertilizer option.”

Liquid potash fertilizers are preferred by manufacturers due to their rapid nutrient-providing capabilities, high solubility, uniform application, and compatibility with crop protection chemicals, compared to solid potash fertilizers.

“Potash fertilizers are commonly used for various crops, including vegetables, fruits, and livestock.”

Cereals and grains are currently the most profitable crops, with South Asia and East Asia being prioritized by prime manufacturers due to high demand for wheat and rice.

The growing concern for health among consumers is driving an increase in the demand for fruits and vegetables, thereby increasing the demand for potassium fertilizers.

Competitive Landscape of the Potash Fertilizers Market Analysis

• Yara International Asa
• Agrium Inc.
• Potash Corporation of Saskatchewan Inc
• Eurochem Group AG
• The Mosaic Company
• JSC Belaruskali
• Helm AG
• Israel Chemicals Ltd.
• Sociedad Química Y Minera De Chile S.A. (SQM)
• Borealis AG
• Sinofert Holdings Limited
• K+S Aktiengesellschaft
• PJSC Uralkali, Russia
• Arab Potash Company
• IMI plc
• LESER GmbH and Co. KG.
• Pentair plc
• The Weir Group PLC
• Valvitalia Group SpA
• Velan, Inc.
• Watts Water Technologies Inc

New Developments in Potash Fertilizers Market

September 5, 2023 65 years-long research concludes: Mineral fertilizer supports sustainable agriculture

Dülmen, Germany, September 5, 2023: The long-term trial (LTT) was conducted at Yara International’s Hanninghof research center in Dülmen, Germany, and studied the long-term effects of nutrient management in farming. The study concludes that balanced application of mineral fertilizer is part of sustainable crop production, with minimal environmental impact.

17 April 2023 EuroChem joins calls from international farmers to prevent a worsening global food crisis

Global supply of fertilisers fell by 12 million nutrient tonnes over the last year — the equivalent of producing enough grain to feed more than 300 million people.

During last year’s peak, fertilizer prices soared by 300% affecting farmers globally, including farmers in developed countries and vulnerable countries like Africa.

Not the moment for optimism — even though prices are now partially stabilized, the volatility of the last 12 months in the global fertilizer and grain markets will have long lasting negative effects in 2023 and beyond.

Regional Analysis of Global Potash Fertilizers Industry

“Large manufacturers in the East Asian fertilizers market often engage in acquisitions and mergers to expand their service offerings globally.”

The Asia Pacific region is expected to experience profitable growth in the global potash fertilizers market due to increased crop demand and farmer awareness about fertilizer efficiency. China, Indonesia, Malaysia, and India are the top exporters, driven by rising vegetable crop consumption requiring optimal potassium fertilizers.

The East Asia market is anticipated to expand at a CAGR of 6.23% to reach US$ 11.3 billion by 2030.

“China is exhibiting high sales of potash fertilizers due to its high-quality and efficient production process.”

China, a vast agricultural country with a rich history and a large rural population, has prioritized agricultural production development. Despite having only 10% arable land, China produces one-quarter of the world's grain and feeds one-fifth of the population. Chinese manufacturers are focusing on specialized farms, increasing demand for organic potassium fertilizer in East Asia.

Chinese manufacturers are focusing on organic potassium fertilizer prices as major players offer increased profit margins to distributors to gain market share.

Segments Covered in the Potash Fertilizers Market Report

Potash Fertilizers Market by Form:

• Solid Potash Fertilizers
• Liquid Potash Fertilizers

Potash Fertilizers Market by Product Type:

• Potassium Chloride
• Sulfate of Potash (SOP Fertilizers)
• Potassium Nitrate
• Others

Potash Fertilizers Market by Application Technique:

• Broadcast
• Fertigation
• Foliar
• Others

By Region type

• North America
• Latin America
• Europe
• APAC
• MEA

Frequently Asked Questions

What is the expected growth rate of the Potash Fertilizers market over the next 7 years?

Potash Fertilizers Market is estimated to increase at a CAGR of 4.67% from $ 29.79 billion in 2023 to $ 46.36 Billion by 2030| Report 2023 by published by Market Report Service.

Who are the major players in the Potash Fertilizers market and what is their market share?

Yara International Asa, Agrium Inc., Potash Corporation of Saskatchewan Inc, Eurochem Group AG, The Mosaic Company, JSC Belaruskali, Helm AG, Israel Chemicals Ltd., Sociedad Química Y Minera De Chile S.A. (SQM), Borealis AG, Sinofert Holdings Limited, K+S Aktiengesellschaft, PJSC Uralkali, Russia, and Arab Potash Company, are prominent players operating and dominating in the market.

Who are the top 3 Potash Fertilizers Market Key Vendors?

Yara International Asa, Agrium Inc., Potash Corporation of Saskatchewan Inc, are key players in the Potash Fertilizers market.

Which geographical areas dominate the worldwide market for Potash Fertilizers?

Asia Pacific region are emerging as the top regional markets for Potash Fertilizers solutions.